First shipment of ore from Sarkiniemi delivered to Hitura Nickel Mine, Finland



    Exchange: TSX V Symbol:  BEL

    VANCOUVER, June 18 /CNW/ - Belvedere Resources Ltd. (the "Company") is
pleased to announce that the first shipment of ore from the newly opened
Sarkiniemi Nickel Mine has been delivered to Hitura for processing. The
shipment consists of approximately 150 tonnes of ore, which has been assayed
at 1.17 %Ni and 0.52 %Cu. The ore will be blended with ore from Hitura to
confirm optimum mixing parameters for an ongoing Hitura - Sarkiniemi ore
blend.
    Approximately 1,500 - 2,000 tonnes of ore has been mined and stockpiled
at Sarkiniemi since waste stripping at the Sarkiniemi West pit began on 4th
June. Regular deliveries to Hitura are expected to commence on 21st June at a
rate of 250 - 300 tonnes of ore daily.
    Valkeisenranta Downhole Geophysics: Results from the downhole geophysics
at the Valkeisenranta nickel copper occurrence 2 km to the west of Sarkiniemi
have been interpreted. Access to all of the planned holes was not possible due
to cave-ins in some holes. Two types of downhole geophysical surveys were
completed, Time Domain Electromagnetic (TEM) and Misse a la Masse (MM). Both
surveys confirm the current geological model. The best conductivity to date is
between holes R494 and R495 where the mineralized zone appears to be at least
100 m wide. Importantly the MM survey demonstrates good electrical
connectivity with the upper mineralised intersections and R493, 494 and 495.
This confirms the net textured ore-type in the measured holes is continuous as
inferred from the geological modelling. The geophysics indicates that the
mineralised zone extends for at least 400-500m downdip from the upper
intersections.

    About Belvedere:

    Belvedere Resources Ltd. is a publicly-listed junior resource company
engaged in the business of nickel production and exploring, discovering and
developing mineral wealth in Finland. The Sarkiniemi Nickel Mine is one of a
number of advanced nickel development properties within the portfolio of Finn
Nickel Ltd., a 100% owned subsidiary of Belvedere Resources Ltd. The
Sarkiniemi mine is located 340 km from the Hitura Nickel Mine, currently owned
by Outokumpu Mining Oy, and soon to be acquired by Belvedere Resources Ltd.,
pursuant to an agreement signed on 23rd March, 2007. The Valkeisenranta nickel
deposit is 2km west of Sarkiniemi, both being in the Kotalahti Nickel
District.

    Forward Looking Statement:

    Some of the statements contained herein may be forward-looking statement,
which involve known and unknown risks and uncertainties. Without limitation,
statements regarding potential mineralization and resources, exploration
results, and future plans and objectives of the Company are forward looking
statements that involve various degrees of risk. Forward-looking statements in
this release include statements regarding the future delivery of ore from
Sarkiniemi to Hitura, and the exploration potential of Valkeisenranta
mineralisation as a result of downhole geophysics.. It is important to note
that the Company's actual results could differ materially from those in such
forward-looking statements.

    This statement is prepared by Dr. Toby Strauss, who is acting as
Qualified Person in compliance with National Instrument 43-101 with respect to
this release.

    BELVEDERE RE

SOURCES LTD. David Pym, CEO The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. %SEDAR: 00005717E

For further information:

For further information: David Pym: +44-7931-371869; Toby Strauss:
+353-87-9870344; Steve Cuthill: (604) 513-0007

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BELVEDERE RESOURCES LTD.

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